Commercial Companies Law

Article 348 — Article (348) Distribution of Profits or Interests in Violation of the Law

Part Eleven: Offences and Penalties

Any manager or Director that distributes to shareholders or others profits or interest in violation of the provisions of this Decree Law or the MOA or AOA of the Company, and any auditor that approves such distribution despite his knowledge of the violation, shall be liable to imprisonment sentence for a term between six [6] months and three [3] years and / or a fine between AED 50,000 [fifty thousand dirhams] and AED 500,000 [five hundred thousand dirhams].

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